Battle lines have begun to form around the so-called “fiscal cliff.” These lines will, of course, shift and waver in coming weeks. That is the nature of negotiations. In the process, financial markets will alternately suffer bouts of fear and relief. The give and take, in all likelihood, will go on to the last possible minute. That, too, is the nature of such negotiations. But for all the doubts that will rise and fall in the interim, probabilities suggest that the talks and maneuvers in the end should keep the nation from going off the cliff. The exact nature of coming compromises remains vague. But the positioning to date gives at least a hint of their nature. Click here to read the entire article by Milton Ezrati, Partner, Senior Economist and Market Strategist at Lord Abbett.